OGE talks to Rustam Rakhmatulin, vice president for Commerce at GEOTEK Holding – the leader in Russia’s seismic survey market.

GEOTECH Holding JSC (hereinafter referred to as the «Geotech» or the «Company») as one of the global leading oil servicing companies shall declare of selling its 25% of shares to the investment fund as the Volga Resources Sicav-SIF S.A. («Volga Resources»). In accordance with this transaction terms the respective part of shares must be purchased from the existing corporate shareholders while the remaining part should be acquired by an additional issue procedure. →

Nine companies have been approved by the governmental Commission for development of stability of the Russian economy under the chairmanship of the Senior Executive of the Chairman of the Government of the Russian Federation Igor Shuvalov to be included into the list of the strategic enterprises and the organisations. →

In the first quarter of 2008, ZAO GEOTECH Holding completed the acquisition of a controlling stake in OAO Khantymansiyskgeofizika, ZAO Continental Geophysical Company and an acquisition of 100% stake in OOO Seismos. Following the consolidation of OAO Khantymansiyskgeofizika, ZAO Continental Geophysical Company and OOO Seismos, as well as subsidiaries within the OAO Khantymansiyskgeofizika Group, ZAO GEOTECH Holding includes the following companies →

GEOTECH OIL SERVICES HOLDING LIMITED (Cyprus) is the parent company of ZAO GEOTECH Holding’s Group. Following the above private placement, three major international funds, Farallon Capital Management, AIG Private Equity, and Black River Asset Management, acquired newly issued shares in the Company. In keeping with the private placement terms and conditions, persons representing new investors, namely Farallon Capital Management and AIG Private Equity, joined the Board of Directors of ZAO GEOTECH Holding Company. The investors hold slightly more than 20% in GEOTECH OIL SERVICES HOLDING LIMITED.  →